Some Thoughts on the Minimax Principle
It is generally agreed that the minimax solution to a two-person zero-sum matrix game is intuitively satisfactory. Now in many applications of game theory, a game is not described a priori in matrix (or "normal" or "strategic") form, but rather in extensive form, i.e., by its rules. A game described in such a way may be reduced to a matrix game by means of the concept of "strategy." If, moreover, it is of perfect recall, then all mixed strategies, and in particular the optimal strategies of each player, are equivalent to behavior strategies. The usual conclusion from these considerations is that for 2-person 0-sum games in extensive form, the minimax solution is intuitively satisfactory; and that in games of perfect recall, in particular, the players would do well to play in accordance with optimal (minimax) behavior strategies. In this paper we shall discuss some examples that, we believe, cast doubt on these conclusions.
Volume (Year): 18 (1972)
Issue (Month): 5-Part-2 (January)
|Contact details of provider:|| Postal: 7240 Parkway Drive, Suite 300, Hanover, MD 21076 USA|
Web page: http://www.informs.org/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:inm:ormnsc:v:18:y:1972:i:5-part-2:p:54-63. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Mirko Janc)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.